The previous trading week ended with the US currency growth - the dollar index basket (USDX) has decreased by 0.78%. At the beginning of the new week the dollar continued to strengthen. However, the dollar is at risk of the macroeconomic positions weakening. The August durable goods orders volume is expected to decline by 2.0%, the second quarter GDP final assessment will be published on Friday which is the current 3.7% (2.7% y/y), still it can decrease as the Fed itself reduced the annual GDP forecast from 2.5% to 2.3% in the latest release.
By the end of the day the pair EUR/USD had decreased after the Moody credit agency decision to decrease the France sovereign rating amid the economic growth slowdown. Perhaps the deteriorated Eurozone payments balance played its role that showed reduction from 24.9 billion euros to 22.6 billion in July as some other currencies did not correct by 100% from the Friday's strengthening.
The pair GBP/USD finished the trades with the quotations decrease amid the "black gold" market sales.
The pair USD/JPY finished the trading day in the green zone - despite the stock markets sales, the Japanese currency failed to strengthen its position against the dollar.Publication source